Mark Hosey

West Central Scotland

R&D

The real skills shortage does not lie in IT or indeed in any of the other technical skills. The real shortage is in business management, merchant banking and law. After all, that’s where the real money and status appear to be. That and of course those in the entertainment industry.
Surely, to use the economists own argument, it’s a case of supply and demand.
If you have a global market for say IT workers, research scientists and development engineers and there is a glut of those educated in those skills then surely supply and demand dictates that these working classes cannot ever hope to negotiate a higher wage or command higher status. When they attempt to do so the employers look to (cheaper) pastures new to fill the vacancies and if that means outsourcing or moving the whole operation to a country with cheaper labour then so be it. After all, employers do not owe their employees or society any loyalty (though for some reason they expect loyalty from their employees and society).
On the other hand we have the obvious high wages and status of those in business management, merchant banking and law. Again, there is a global market in these skills but because demand out strips supply they continue to command high wages and status. Some would of course say that it is the “responsibility” that goes with the job but that’s a fallacious argument otherwise bus drivers, train drivers and pilots would all be millionaires (a bus driver is responsible for, on average, 500,000 lives annually).
So my advice to all school leavers is, “If you can’t get a job as a football star, pop singer or super model, pursue a career business management, merchant banking or law. That’s where the money is!”.